What Is The Importance Of Housing Tenure?

Housing tenure is a very important term used by many many professionals in terms of residential real estates. This term is used to define the type of ownership an individual or group of people have in any type of housing. So what is the importance of housing tenure?

In residential real estates, the term housing tenure is commonly used by experts and professionals to determine the difference of a type of housing from other types of
housing. Although many may differentiate houses from condominiums from its physical form, there are several types of housing that can only be differentiated from other
types of housing through its ownership, or housing tenure.

According to many experts, including those from philippine real estate companies, housing tenure is mostly used to determine the type of ownership between two similar types of residential real estate, such as condominiums and apartments (building). Both condominiums and apartments are under the category of multi-unit dwellings.

Another similarity is with its built or physical. Condominiums and apartments (building) are practice similar with each other. According to many experts, a building to be used as a condominium can also be used as an apartment. The difference, however, is with its ownership. Apartments are mostly occupied by tenants which pay rent to their landlord, while condominiums involve individual ownership of each unit while the rest of the building are jointly owned.

That is the reason why housing tenure is a very important part of any residential real estate. So what other types of ownership or housing tenure is used in the market?

Types of housing tenure
According to many professionals, including those from philippine real estate companies, the most common types of ownership are owner-occupancy and tenancy. Tenancy are the type of housing tenure that governs most apartments, may it buildings or houses. Owner-occupancy, on the other hand, governs the ownership of most houses, including condominiums, townhouses, and cooperative housing.

However, the housing tenure owner-occupancy have been modified many times to accommodate the new types of housing introduced around the world. Though owning a
condominium unit is similar to owning a house, there are several difference within its housing tenure. While houses are governed by owner-occupancy, condominiums are
governed by the same term, which is condominium.

According to many philippine real estate
experts, condominium is a type of ownership which is came from other types of ownership, including the commonhold and strata title, which is the type of ownership in townhouses. The difference is that in condominiums, residents own their units while the rest of the building or compound are jointly owned by all owners. Other types of housing tenure include: Cooperative housing, public or government housing, land trust, as well as squatting.

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